Total Utility Will Be at Its Maximum When

question 33

Multiple Choice

Total utility will be at its maximum when

• A)marginal utility is negative.
• B)marginal utility is positive.
• C)marginal utility is maximized.
• D)marginal utility is zero.

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Definitions:

Mass Customization

A production and marketing technique that combines the flexibility and personalization of custom-made products with the low unit costs associated with mass production.

Salient Attributes

Features or aspects of a product or service that are most noticeable and important to the consumer.

Positioning Method

The strategy used by a company to differentiate its products or services from its competitors' and to occupy a specific place in the minds of the target market.

Perceptual Map

A visual representation of how consumers perceive and position products, brands, or companies relative to each other, typically based on important attributes.